Same here: over 1.8k hours playtime on Steam and over 1k € spent on in-game-items or merchandise over the years. I switched from console to PC in 2016 after having already invested over 200 hours and bought a prime-access and prime-vault package on console. Still I am desperately trying to find a reason not to uninstall the game after this update.
The root that was planted with the introduction of Rivens in November 2016 has seemingly steered the game in a distasteful direction. The Riven system, the Kuva Lich weapon system and the Empyrean system appear to be designed to be time-sinks and micro-transaction-catalysts. Based on feedback from e.g. dev-streams, the cores of the Riven system and Kuva Lich weapon system are intended to stay as they are. And while the core game-play loop of Empyrean is promising, the update was clearly not ready for release. And now that it was released, I have little hope of it being changed substantially for the better either.
DE has repeatedly demonstrated to rather apply band-aids (changes that do not solve a problem but make it appear to be less of an issue) to something they already released, instead of implementing fundamental changes to improve the player-experience (e.g. Rivens, Sanctuary Onslaught & Arbitration ability-restrictions and Kuva Lich weapons). It looks like band-aids get added and discussions are had until the vocal majority of the community gets tired enough to shift to the next problem. While DE seems to be willing to completely scrap ideas from their dev-workshops (e.g. damage 3.0), they appear to be gung-ho on achieving the greatest possible accretion when it comes to changes already pushed to their customers.
I am not telling anyone how to run their company or develop their game. If this direction turns out to be healthy for DE in the long-run, more power to them.
But I feel alienated.